Bank Pictet & Cie Europe AG Reduces Stock Holdings in Bristol Myers Squibb Company $BMY

Key Points

• Bank Pictet & Cie Europe AG significantly reduced its holdings in Bristol Myers Squibb by 87.2% in the second quarter, now owning 29,605 shares worth approximately $1.37 million.
• Bristol Myers Squibb reported an EPS of $1.46 for the last quarter, exceeding analysts’ expectations, with quarterly revenue of $12.27 billion.
• The company recently announced a quarterly dividend of $0.62 per share, resulting in a 5.7% dividend yield for shareholders.

Bank Pictet & Cie Europe AG cut its holdings in Bristol Myers Squibb Company (NYSE:BMY - Free Report) by 87.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,605 shares of the biopharmaceutical company's stock after selling 201,895 shares during the quarter. Bank Pictet & Cie Europe AG's holdings in Bristol Myers Squibb were worth $1,370,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Marcum Wealth LLC increased its stake in Bristol Myers Squibb by 1.0% during the 1st quarter. Marcum Wealth LLC now owns 19,296 shares of the biopharmaceutical company's stock valued at $1,177,000 after purchasing an additional 193 shares in the last quarter. Beacon Investment Advisory Services Inc. grew its holdings in shares of Bristol Myers Squibb by 2.7% during the first quarter. Beacon Investment Advisory Services Inc. now owns 8,063 shares of the biopharmaceutical company's stock valued at $492,000 after buying an additional 212 shares during the last quarter. 1858 Wealth Management LLC increased its position in shares of Bristol Myers Squibb by 3.6% in the 1st quarter. 1858 Wealth Management LLC now owns 6,421 shares of the biopharmaceutical company's stock valued at $392,000 after acquiring an additional 221 shares during the period. Tompkins Financial Corp raised its stake in Bristol Myers Squibb by 2.5% in the 1st quarter. Tompkins Financial Corp now owns 9,151 shares of the biopharmaceutical company's stock worth $558,000 after acquiring an additional 225 shares during the last quarter. Finally, LS Investment Advisors LLC lifted its position in Bristol Myers Squibb by 1.3% during the 1st quarter. LS Investment Advisors LLC now owns 17,015 shares of the biopharmaceutical company's stock worth $1,038,000 after acquiring an additional 225 shares during the period. Hedge funds and other institutional investors own 76.41% of the company's stock.

Bristol Myers Squibb Stock Down 1.6%

NYSE BMY opened at $43.45 on Friday. Bristol Myers Squibb Company has a one year low of $42.96 and a one year high of $63.33. The company has a market cap of $88.44 billion, a P/E ratio of 17.52, a P/E/G ratio of 2.26 and a beta of 0.35. The business has a fifty day moving average price of $46.70 and a 200 day moving average price of $49.27. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.11 and a current ratio of 1.21.

Bristol Myers Squibb (NYSE:BMY - Get Free Report) last issued its earnings results on Thursday, July 31st. The biopharmaceutical company reported $1.46 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.39. The business had revenue of $12.27 billion during the quarter, compared to analysts' expectations of $11.32 billion. Bristol Myers Squibb had a net margin of 10.58% and a return on equity of 80.04%. The company's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.07 earnings per share. Bristol Myers Squibb has set its FY 2025 guidance at 6.350-6.650 EPS. Research analysts anticipate that Bristol Myers Squibb Company will post 6.74 EPS for the current fiscal year.

Bristol Myers Squibb Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Friday, October 3rd. Bristol Myers Squibb's payout ratio is currently 100.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Daiwa America downgraded Bristol Myers Squibb from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 5th. Daiwa Capital Markets cut shares of Bristol Myers Squibb from an "outperform" rating to a "neutral" rating and set a $42.00 target price for the company. in a report on Tuesday, August 5th. Morgan Stanley reaffirmed a "hold" rating on shares of Bristol Myers Squibb in a report on Thursday, July 31st. Citigroup reduced their price objective on Bristol Myers Squibb from $51.00 to $47.00 and set a "neutral" rating for the company in a research note on Friday, August 1st. Finally, Wall Street Zen lowered Bristol Myers Squibb from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $56.38.

Insider Activity

In related news, EVP David V. Elkins sold 56,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $47.33, for a total value of $2,650,480.00. Following the completion of the sale, the executive vice president owned 167,379 shares of the company's stock, valued at approximately $7,922,048.07. This trade represents a 25.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by company insiders.

Bristol Myers Squibb Profile

Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide. It offers products for hematology, oncology, cardiovascular, immunology, fibrotic, and neuroscience diseases. The company's products include Eliquis for reduction in risk of stroke/systemic embolism in non-valvular atrial fibrillation, and for the treatment of DVT/PE; Opdivo for various anti-cancer indications, including bladder, blood, CRC, head and neck, RCC, HCC, lung, melanoma, MPM, stomach and esophageal cancer; Pomalyst/Imnovid for multiple myeloma; Orencia for active rheumatoid arthritis and psoriatic arthritis; and Sprycel for the treatment of Philadelphia chromosome-positive chronic myeloid leukemia.

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